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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: auto industry

auto industry stories: 496 news summaries

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(Newser) - The House voted today to beef up the "cash for clunkers" program to the tune of $2 billion, but that doesn’t mean shoppers and dealers are any clearer on the federal program, the Detroit Free Press reports. “It is an absolute total mess,” one dealer... More »

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Congress • House of Representatives • auto industry • automobile • President Obama • Cash for Clunkers • federal funding • Car Allowance Rebate System

(Newser) - The rumors of the “cash for clunkers” deal’s demise have been greatly exaggerated, the White House said today, promising that the trade-in program will continue even after consumers have used up its allotted $1 billion. “If you were planning on going to buy a car this weekend... More »

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Detroit • Michigan • Carl Levin • auto industry • Big Three • cars • Obama administration • Robert Gibbs • Cash for Clunkers

(AP) - The government plans to suspend its popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases. The Transportation Department called lawmakers' offices to alert them to the decision to suspend the program at midnight Friday. The program offers... More »

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Detroit • auto industry • car dealers • cars • Cash for Clunkers

(Newser) - Rolls-Royce has good news for cash-strapped millionaires: They won’t have to condescend to buy a Bentley, Time reports. The automaker, known for its gigantic limousines, is about to release the Ghost, a short, sleek four-door sedan priced at a mere $245,000. That’s a sight lower than the... More »

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recession • luxury car • auto industry • Rolls-Royce • cars

(Newser) - The government’s Car Allowance Rebate System—the “Cash for Clunkers” plan—goes into effect today, but it might not be such a good deal for you or the environment, Elisabeth Leamy and Nathalie Tadena write for ABC News. New-car buyers who trade up more than 4mpg in mileage... More »

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environment • auto industry • Federal government • used cars • gas mileage • Cash for Clunkers • Car Allowance Rebate System • new car

EARNINGS REPORT

 Ford Shocks Street 
 With $2.3B Profit 


Jul 23, 09 6:39 AM CDT
(Newser) - Ford surprised the markets today by posting a $2.3 billion quarterly profit, thanks mostly to debt restructuring actions, Reuters reports. The result beat estimates and represents Ford's first good quarter in more than a year; this time in 2008, the automaker lost $2.7 billion. But the global downturn... More »

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debt • Ford • corporate earnings • restructuring • auto industry • quarterly reports • quarterly profits • cars

OPINION

 'Cash for Clunkers' 
  Is a Car Wreck 


Jul 18, 09 5:20 PM CDT
(Newser) - The Cash for Clunkers program should never have left the lot, Michelle Singletary writes in the Washington Post. The premise is fine: Give people a financial incentive to trade in old gas guzzlers for new gas sippers. It's the details that smell like a lemon. "The law does... More »

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fuel efficiency • debt • auto industry • cars • Cash for Clunkers

(Newser) - A spending bill passed by the House last night includes a provision to reopen hundreds of Chrysler dealerships and prevent the closing of over 2,000 more planned by GM, the Detroit News reports. The measure, opposed by the White House, will force the automakers to give dealers targeted for... More »

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Chrysler • General Motors • House of Representatives • auto industry • car dealers • dealership • auto bailout

(Newser) - The crash of the US auto market has sped up the global auto industry's shift toward emerging markets, and no one is better poised to take advantage than the Chinese, the Wall Street Journal reports. Geely, one of the few Chinese auto firms that operate without a foreign partner, has... More »

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China • General Motors • Ford • Volvo • auto industry • Geely Automobile Holdings

(Newser) - Now he can fly on all the private planes he wants: Former General Motors CEO Rick Wagoner will collect an $8.2 million payout package, plus a $74,000 annual pension, reports the Detroit Free Press. If he chooses, the 56-year-old Wagoner also can cash out a company life insurance... More »

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pensions • General Motors • CEO • auto industry • Rick Wagoner

(Newser) - The man tabbed by President Obama to see General Motors and Chrysler through bankruptcy is leaving the post, the New York Times reports. Though Steven Rattner’s former investment firm is under investigation, it’s unclear if that affected his decision. Treasury Secretary Tim Geithner said today that, with both... More »

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Chrysler • bankruptcy • General Motors • auto industry • Obama administration • President Obama • Steven Rattner • Ron Bloom

UPDATED


 Done Deal: 
 GM Out of Bankruptcy 


Good assets go to US-backed firm

Jul 10, 09 8:26 AM CDT
(Newser) - As of 6:30 this morning, the new General Motors is on its way: The old firm sold its good assets to a new automaker backed by the government via a bankruptcy overhaul far speedier than experts expected, the New York Times reports. The new firm, Vehicle Acquisition Company, will... More »

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bankruptcy • General Motors • automaker • auto industry • US automakers

(Newser) - General Motors finds itself with a rare hot-selling car on its hands as it prepares to emerge from bankruptcy. The retro-styled 2010 Chevy Camaro, which taps into nostalgia for the company's muscle cars of the '60s, has been creating a buzz in GM showrooms around the country and is expected... More »

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General Motors • Chevrolet • auto industry • Camaro

 Court Clears Path 
 to 'New' GM 

Court ordered stay on asset sale expires

Jul 9, 09 1:55 PM CDT
(Newser) - General Motors is set to complete its bankruptcy reorganization, the Detroit Free Press reports. The sale of certain GM divisions to the “new” GM—largely owned by the US Treasury—is expected to happen tomorrow, at the expiration of a holding period for opponents of the deal to make... More »

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bankruptcy • General Motors • Detroit • auto industry • Big Three • bankruptcy protection • bankruptcy reorganization

 Judge Greenlights 
 GM Asset Sale 

Firm will transform into leaner car maker owned by US, Canada, UAW

Jul 6, 09 1:44 AM CDT
(Newser) - GM has won approval for a restructuring plan in which the car maker will sell its most valuable assets to a new firm—also called GM—owned by the US and Canadian governments and a UAW health care trust, the New York Times reports. Judge Robert Gerber agreed with GM... More »

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bankruptcy • General Motors • automaker • restructuring • auto industry • car dealers • automobile

Ex-Autoworkers Retool for Lower Paying Jobs

Industry vets remake themselves as truck drivers, nurses' aides

Jul 4, 09 7:42 AM CDT
(Newser) - Hundreds of thousands of ex-autoworkers left adrift by the industry's implosion are having to learn new skills and get used to lower pay, the Washington Post reports. Community colleges in the auto industry's heartland are jam-packed with midlife workers aiming to qualify quickly to become truck drivers, computer technicians or... More »

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Michigan • unemployment • training • auto industry • auto worker

(Newser) - A rare sentiment emerged from the auto industry today: cautious optimism. New sales figures show that Americans bought 860,000 vehicles in June, the Wall Street Journal reports. That's down 28% from last year, but it's also the smallest monthly sales drop of the year. Ford and Toyota both declared... More »

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Chrysler • Toyota • General Motors • auto industry • auto sales • Ford Motor Co.

Prius Owners Sue
Over Faulty Headlights

Owners suing Toyota over expensive repair

Jun 30, 09 5:38 PM CDT
(Newser) - Toyota’s Prius, now in its third generation, remains the dominant hybrid car. But an increasing number of older Prius owners are finding that the autos have a potentially dangerous flaw—failing headlights. What's worse, the so-called high-intensity discharge lamps, which are optional ugrades, can cost more than $1,000... More »

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Toyota Prius • recall • repair • NHTSA • Prius • auto industry • hybrid car

(Newser) - Recession be damned, desire for the 2010 Chevrolet Camaro far outstrips supply—and some dealers are even charging a premium for the sporty new ride, USA Today reports. “Our current production schedule can’t meet the demand,” a General Motors spokesman said. But “that supply-demand tension is... More »

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General Motors • recession • model • Chevrolet • auto industry • supply and demand • cars • automobile • Camaro • Ford Mustang

(Newser) - Saturn dealerships around the country have been using the brand’s planned acquisition by Roger Penske to attract customers, the Wall Street Journal reports. "People want to buy from someone they like," said the owner of a Saturn dealership in Wichita. But dealership owners nationwide have since received... More »

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General Motors • acquisition • Saturn • auto industry • car dealers • Roger Penske • customer loyalty

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